8,424 Shares in Tanger Inc. (NYSE:SKT) Acquired by Choreo LLC

Choreo LLC purchased a new position in shares of Tanger Inc. (NYSE:SKT) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 8,424 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Tanger by 1.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock worth $1,146,000 after acquiring an additional 512 shares in the last quarter. EMC Capital Management boosted its position in shares of Tanger by 5.1% during the 1st quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 697 shares in the last quarter. American International Group Inc. boosted its position in shares of Tanger by 1.5% during the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 813 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 819 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SKT shares. Evercore ISI raised their target price on shares of Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a research report on Monday. Scotiabank raised their target price on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Compass Point raised their target price on shares of Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

Tanger Stock Up 2.0 %

Shares of NYSE SKT opened at $31.93 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.23 and a beta of 1.89. The company has a 50-day moving average price of $29.19 and a 200-day moving average price of $28.23. Tanger Inc. has a 1 year low of $21.42 and a 1 year high of $32.05. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, July 31st. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Tanger Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.